The Real Reason Rent is Going Up

[j3lademaster]

https://news.bloomberglaw.com/esg/re...ver-rent-spike

"...beginning in approximately 2016, and potentially earlier, Lessors replaced their independent pricing and supply decisions with collusion. Lessors agreed to use a common third party that collected real-time pricing and supply levels, and then used that data to make unit-specific pricing and supply recommendations. Lessors also agreed to follow these recommendations, on the expectation that competing Lessors would do the same."
...
"As of December 31, 2019, RealPage had over 29,800 clients, including each of the ten largest multifamily property management companies in the U.S."

Who knows how many industries have these cartels, and disguise their price gouging as ‘inflation’. Healthcare, for sure, has been doing it for years.

“It’s just the market doing its thing guys, honest”.

[diamenz]

related:

https://mattstoller.substack.com/p/c...0-of-inflation

[Nanners]

I have no problem with a company owning an apartment building or several of them, but its insane that the US is allowing investment funds to buy up tens of thousands of single family homes.

[j3lademaster]

I have no problem with a company owning an apartment building or several of them, but its insane that the US is allowing investment funds to buy up tens of thousands of single family homes.

I agree with you. There’s nothing wrong with earning money renting your property or flipping houses. It’s a viable source of income in any economically successful country in the world. Megacorporations are just a huge problem in general. This is just another example of them attacking another extremely inelastic, essential resource(shelter) and price gouging it.